Taxation

Bradley A. Hansen

Chapter Chapter 7 in Institutions, Entrepreneurs, and American Economic History, 2009, pp 145-165 from Palgrave Macmillan

Abstract: Abstract Pollock v. Farmers’ Loan and Trust Co. (1895) is the most well known of the many Supreme Court cases that the Farmers’ Loan and Trust Company was involved in.1 The decision in Pollock declared that the income tax act enacted the previous year was unconstitutional, and eventually led to the enactment of the Sixteenth Amendment. The 1894 income tax act had been enacted as part of a plan to lower the tariff and shift more of the tax burden on to the wealthier members of society. Conservative newspapers touted the Supreme Court’s decision as a vindication of property rights, while liberal newspapers attacked it as further evidence that men of property controlled the courts.2

Keywords: Real Estate; Saving Bank; Reserve Requirement; Trust Company; Municipal Bond (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-61913-5_7

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DOI: 10.1057/9780230619135_7

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